Alex Smith, San Francisco 49ers make a new deal

[ellisonz]

By Doug Farrar | Shutdown Corner – 5 hours ago

After the 49ers' dalliances with Peyton Manning, and quarterback Alex Smith's corresponding free-agent visit to Miami, it seems that both sides have agreed to make nice ... and make do. Matt Maiocco of CSN Bay Area confirmed a report from Michael Lombardi of the NFL Network, indicating that the 49ers have re-signed Smith. Before 49ers head coach Jim Harbaugh and offensive coordinator Greg Roman flew to North Carolina last Tuesday to watch Manning work out, Smith had been considering a three-year, $24 million offer from the team.

Because Smith hadn't yet agreed to terms, the 49ers felt justified in going after Manning, an option that Manning seriously considered before agreeing to terms with the Denver Broncos on a five-year, $96 million deal. The speculation was that Manning wouldn't sign with an NFC team because he might have to face brother Eli in the playoffs, but Manning refuted that claim when asked by the NFL Network's Rich Eisen on Tuesday.

"It's unfair to say that because I wouldn't have had the discussions and the talks and the workout for the San Francisco 49ers if that were the case," Manning said. "I knew that San Francisco was in the NFC. When the two of us started to talk, I very easily could have seen myself being a 49er. That's why it was so hard. I kept wanting for someone to just tell me where to go."

More: http://sports.yahoo.com/blogs/nfl-shutdown-corner/alex-smith-san-francisco-49ers-agree-deal-004300554.html

[Auggie]

1. The new deal is about the same as the old deal -- three years

I'll speculate that it's maybe for a little more plus the usual incentives/guarantees

From the San Francisco Chronicle, 3-21-12:

The 49ers and Smith came to terms Tuesday on a three-year deal that will pay about $8 million annually, ESPN reported. The amount of guaranteed money has not been disclosed. The contract is presumably similar to the three-year, $24 million offer the team had on the table prior to the start of free agency March 13.

SNIP

Given his performance (in 2011), the team's contract offer didn't appear to reflect his market value. Buffalo's Ryan Fitzpatrick, who ranked 22nd in the NFL in quarterback rating (79.1) last season, was signed to a six-year, $59 million contract with $24 million guaranteed in October. On Sunday, Seattle signed former Green Bay backup Matt Flynn, who has two career starts, to a three-year, $26 million deal with $10 million guaranteed.

LINK: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/20/SP1N1NNIQJ.DTL

Reminds me of the Seinfeld episode where George, in discussing terms for a new NBC sitcom, actually negotiates for less money. Amazingly, this all worked out for the 49ers.